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Posted by Elle on April 7, 2008, 4:19 pm
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> Oh, I see your and their point now. I remain doubtful that
> this leger-de-main of wording that HR Block uses does not
> violate the IRS rule.
I take the above back. I think you all are right. Blocks'
wording is a statement of fact (unfortunately) as much as
anything else. Namely, people do get the RAL sooner than
they get the IRS refund, even if, realistically, often it is
only a few days sooner (from what I am hearing about when
those who file online see the money deposited into their
accounts; roughly five business days).
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
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Posted by Mark Bole on April 8, 2008, 9:30 am
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Elle wrote:
>> Oh, I see your and their point now. I remain doubtful that
>> this leger-de-main of wording that HR Block uses does not
>> violate the IRS rule.
>
> I take the above back. I think you all are right. Blocks'
> wording is a statement of fact (unfortunately) as much as
> anything else. Namely, people do get the RAL sooner than
> they get the IRS refund, even if, realistically, often it is
> only a few days sooner (from what I am hearing about when
> those who file online see the money deposited into their
> accounts; roughly five business days).
>
I think it boils down to, you can call a refund a refund, you can call a
loan a loan, but you can't call a loan a refund and say it's a "faster"
refund.
-Mark Bole
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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Posted by Han on April 8, 2008, 12:16 pm
Please log in for more thread options @nlpi064.nbdc.sbc.com:
> I think it boils down to, you can call a refund a refund, you can call a
> loan a loan, but you can't call a loan a refund and say it's a "faster"
> refund.
>
> -Mark Bole
>
That's the essence of it. Calling a loan a refund should (is?) against the
law, at least in NY. So HRB calls it a RAL. But it is still a loan, at
excessive interest rates, and with the refund as collateral. What does
SOOL mean again?
--
Best regards
Han
email address is invalid
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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Posted by Paul Thomas, CPA on April 8, 2008, 1:07 pm
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> That's the essence of it. Calling a loan a refund should (is?)
> against the law, at least in NY. So HRB calls it a RAL.
Refund Anticipation Loan.
I always try to see who will make me a CBAL: Christmas Bonus Anticipation
Loan, or a BPAL: Birthday Present Anticipation Loan, or the ever so popular
LWAL: Lottery Winnings Anticipation Loan. For some strange reason, there's
not anyone willing to fund those.
> What does SOOL mean again?
If the robo-moderator (or the live guy) doesn't bleep this: Shit Out Of
Luck.
--
Paul A. Thomas, CPA
Athens, Georgia
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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Posted by Han on April 8, 2008, 1:50 pm
Please log in for more thread options
>> What does SOOL mean again?
>
>
> If the robo-moderator (or the live guy) doesn't bleep this: Shit Out Of
> Luck.
>
That is mean for the poor guy who needs money and steps up to the plate GO
METS!) to get a quick "refund".
--
Best regards
Han
email address is invalid
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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